Hercules Expands Into Southern California, the Third Largest Venture Capital Investment Region in the United States

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Former Silicon Valley Bank Vice President Tim Barnes to Lead New Southern California Growth Strategy

PALO ALTO, Calif.--(BUSINESS WIRE)-- Hercules Technology Growth Capital, Inc. (NYSE:HTGC) (“Hercules” or the “Company”), the leading specialty finance company to innovative, high-growth venture capital-backed companies, today announced that it has expanded into Southern California, the third largest U.S. venture capital investment region. Tim Barnes, a former Silicon Valley Bank vice president, has joined Hercules’ investment team as a Managing Director to lead the new Los Angeles office, which will cover the Southern California region.

The expansion is part of Hercules’ planned growth strategy and provides geographic penetration and support for Southern California where the Company is currently underrepresented. The Southern California region received over $4 billion in venture capital-based investments in 2014, and has already received over $4 billion in venture capital-based investments during the first half of 2015, as reported by Dow Jones VentureSource in Q2 2015. The new Los Angeles office complements Hercules’ long standing position in the venture capital strongholds of Silicon Valley, New England and Mid-Atlantic.

“Growth is the cornerstone of our long-term strategy and today’s announcement marks an exciting chapter for Hercules on that mandate,” stated Manuel A. Henriquez, chairman and chief executive officer of Hercules. “A presence in Los Angeles will enable us to better meet the growing demand from venture-capital backed companies who seek alternatives to equity financing in this important region. I am also very pleased to have Tim lead this very important initiative. He is an extraordinary leader with a proven track record and a wealth of experience in venture debt.”

Mr. Barnes is a seasoned executive, with almost a decade of experience originating, structuring and underwriting senior bank debt facilities for venture-backed and private equity-backed technology and life science companies. Most recently, Mr. Barnes served as Vice President at Silicon Valley Bank in Los Angeles, and was responsible for sourcing, underwriting, and managing a credit portfolio of commercial, venture debt and asset-based loans. Prior to that Mr. Barnes served as a Captain in the U.S. Air Force, with completed assignments at the Space and Missile Systems Center in Los Angeles and 355th Fighter Wing in Tucson, Arizona. Mr. Barnes received a Bachelor of Science degree in Social Sciences from the U.S. Air Force Academy in Colorado Springs, Colorado, a Master of Aeronautical Science degree from Embry-Riddle Aeronautical University in Tucson and a Master of Business Administration degree from the University of Southern California in Los Angeles.

About Hercules Technology Growth Capital, Inc.

Hercules Technology Growth Capital, Inc. (NYSE:HTGC) (“Hercules”) is the leading specialty finance company focused on providing senior secured venture growth loans to high-growth, innovative venture capital-backed companies in the technology, biotechnology, life sciences, healthcare, and energy & renewable technology industries. Since inception (December 2003), Hercules has committed more than $5.5 billion to over 325 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing. Companies interested in learning more about financing opportunities should contact info@htgc.com, or call 650.289.3060.

Hercules’ common stock trades on the New York Stock Exchange (NYSE) under the ticker symbol "HTGC."

In addition, Hercules has three outstanding bond issuances of 7.00% Notes due April 2019, 7.00% Notes due September 2019, and 6.25% Notes due July 2024, which trade on the NYSE under the symbols “HTGZ,” “HTGY,” and “HTGX,” respectively.

Forward-Looking Statements:

The information disclosed in this release is made as of the date hereof and reflects Hercules most current assessment of its historical financial performance. Actual financial results filed with the Securities and Exchange Commission may differ from those contained herein due to timing delays between the date of this release and confirmation of final audit results. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market volatility, and other factors we identify from time to time in our filings with the Securities and Exchange Commission. Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Hercules assumes no obligation to update the forward-looking statements for subsequent events.

Hercules Technology Growth Capital, Inc.
Michael Hara, 650-433-5578 HT-HN
Investor Relations and Corporate Communications
mhara@htgc.com
or
Muirfield Partners
Mickey Mandelbaum, 310-785-0810
mickey@muirfieldpartners.com
Maya Pogoda, 310-785-0810
maya@muirfieldpartners.com

Source: Hercules Technology Growth Capital, Inc.

Released September 16, 2015